End the Charitable Tax Exemption and Remove the Conflict of Interest Baked Into Big Philanthropy
At a time of growing distrust in philanthropy and stagnant or declining giving, it’s no longer tenable to maintain a system that allows donors to reap rewards through the nonprofits they fund.
By Jeff Cain
Contributor
Retired Construction Executive Gives $75 Million to U. of St. Thomas
Plus, four Mars candy company heiresses together gave $22 million to support a science, technology, engineering, arts, and math programs at a prep school for girls.
By Maria Di Mento
Senior Editor
How Grant Makers Can Help State Policy Makers Advance Smart Approaches
This month, a new crop of young elected leaders is stepping into power in state houses and city council chambers nationwide. Philanthropy needs to invest in programs to help them do their jobs effectively and fulfill the promises of the campaign trail.
By Tom Perriello and Karundi Williams
Open Philanthropy Gives $150 Million for Global Health, Climate, and Education
Also, the Lilly Endowment gave $80 million to improve public parks in Indiana, and the National Trust for Historic Preservation awarded $4 million to 35 historic Black churches across the United States.
By M.J. Prest
Senior Editor, Solutions
Harvard Lands $50 Million Gift to Launch Program Honoring Paul Farmer
Plus, gifts from MacKenzie Scott and Michael Jordan inspired a Washington State couple to give Friends of the Children $33 million to expand its youth mentoring and family services programs.
By Maria Di Mento
Senior Editor
Gates Foundation to Increase Funding to $8.3 Billion This Year
The grant maker predicts its annual grant budget will grow to $9 billion by 2026.
By Alex Daniels
Senior Editor, Foundations
Disaster Giving Goes Mostly to Immediate Relief, Not Prevention or Long-Term Recovery
Foundation giving was 15 times greater in the year after the pandemic struck. But the emphasis on immediate relief worries experts, especially as climate change makes natural disasters more frequent and devastating.
By Kay Dervishi and Yesica Balderrama
Dead Billionaires Whose Foundations Are Thriving Today Can Thank Henry VIII and Elizabeth I
History explains why American donors get to give from the grave.
By Nuri Heckler
Contributor
FedEx Founder and Veteran Fred Smith Offers Unusual Gift
He financed the production of the film Devotion, about two Navy pilots in the Korean War. The film’s proceeds will go in part to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM.
By Thalia Beaty
Associated Press
James Irvine Foundation Awards $35 Million to Support Workers in California
Plus, the Semiconductor Research Corporation gave $250 million to a consortium of seven U.S. universities for microelectronics research, and the Robert Wood Johnson Foundation committed $5 million to support studies focused on gun violence.
By M.J. Prest
Senior Editor, Solutions
Muslim Couple Give Big to Autism and Promoting Religious Understanding
Rafat and Zoreen Ansari are Indiana physicians who are devoting their fortune to fostering a better understanding of the world’s religions and ensuring people with autism get the care they need.
By Maria Di Mento
Senior Editor
A Family Fund’s Response to the Racial Reckoning: Give All Its Assets to One Black-Focused Nonprofit
A Baltimore foundation gave nearly all of its $1 million in assets to resuscitate a nonprofit newspaper. Its goal: to put the money in the hands of a Black-led charity and counter the idea it’s enough just to give to racial-equity organizations
By Alex Daniels
Senior Editor, Foundations
The grassroots grants came from Co-Impact, a group supported by Melinda French Gates and MacKenzie Scott, among others, while the Mellon Foundation donated $11 million for a cultural center to memorialize the history of slavery in Richmond, Va.
By M.J. Prest
Senior Editor, Solutions
Top 10 Donations of 2022 Totaled $9.3 Billion
Much of the money went to private foundations or to universities, but some went to cancer research and treatment, housing, youth programs, and reproductive health.
By Maria Di Mento
Senior Editor
He says his hands-on approach is working, as he laments inaction on climate change and the way the pandemic upended progress on fighting disease.
By Alex Daniels
Senior Editor, Foundations
Program-Related Investments: One Way Foundations Support Charities Without Donating Money
Most U.S. foundations seek to preserve the money that funds their grants and operations for the long term. They accomplish this by not giving away more money than they earn as returns on the assets held in their endowments.
By Jessica Jones
Contributor